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Free detachable warrants ("Warrants") issued pursuant to the acquisition of 12.00% equity interest in Berjaya Land Berhad for a total purchase consideration of RM419.11 million satisfied by the issuance of RM353.25 million nominal value of irredeemable convertible unsecured loan stocks together with 706.50 million Warrants in Berjaya Corporation Berhad ("BCorp") and cash of RM65.86 million
The Warrants can be exercised at any time on or after the date of issue of the Warrants up to the expiry date, i.e. 29 May 2026 ("Expiry Date") (both dates inclusive). Each Warrant entitles the registered holder during the Exercise Period to subscribe for one (1) new ordinary share of RM1.00 each in BCorp at the Exercise Price, subject to the adjustments in accordance with the provisions of the Deed Poll dated 30 May 2016. Any Warrant which has not been exercised on the Expiry Date will lapse and cease to be valid for any purpose. This Announcement is dated 1 June 2016.